Quote:
Originally Posted by Kurt V
I'm guessing it will bottom at 8,000. At least that is when I plan on buying back in.
|
It may sound like a cliche, but would have been good advice to take for anyone who has been buying on the way down: "Never try to catch a falling knife."
I think we have a lot more downside. There are still too many people in "the market" -- often invested though retirement accounts -- who have
no clue about what they are buying and no understanding about how to place a value on a business.
I won't believe we've hit bottom in this stock market until we see things such as the "Cayman Island stock issues" like "BIDU" crashing to a fraction of their current values.
There are still too many stocks that are
insanely overvalued.
There is still too much
bad debt on the financial companies' balance sheets which hasn't been written down properly yet.
The selling ain't over yet, IMO.